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Joe owns a rental property for 18 months during which time it is tenanted. He subdivides the land, building 5 new residences for a total of 6 dwellings. The profit on the 5 new dwellings will be treated as income, and taxed as such. He will also pay GST. Will the profit on the existing...

Company "XYZ" owns two vehicles. XYZ has one shareholder and director, "Dave". Dave runs another business under his own name as a sole trader. Can XYZ rent the two vehicles to Dave?

Hi Folks, Where can I obtain information in relation to Suburb Price growth? Would be handy to see all suburb price growth in tabulated form, sorted in order of highest to lowest.

Hi Folks, Where can I obtain information on the fastest growing (price-wise) suburbs? Happy to pay, although free is good :)

If a car lease is taken in my own name, and the car is registered in the Company name, does the company get the tax deductions?

My strata insurance is with Allianz, and it does not cover "erosion, collapse, or any other earth movement". Does anyone know if there is another Insurer that does cover these events? My Broker says there isn't one.

Hi All, Is the vehicle depreciation limit the same ($57,466) for a Pty Ltd company as it is for an individual? Does the same figure also apply to interest on the lease?

Some years back I read The Rise and Rise of Kerry Packer - great read and recommended. In it, the author speaks of Kerry Packers' use of off-shore companies for tax relief - ie, Company ABC operates in the Bahamas, while XYZ operates in Australia. Company XYZ makes $10m, so company ABC...

Warren Buffett uses it over in the states as an interest free "loan". Does anyone know the rulings here? I rang the ATO earlier today. The lovely lass informed me that should I wish to defer my company tax, I would need to apply for a hardship case, and if I had a genuine reason then she...

Hi all, Question 1 I am conducting a property development, which is in my name. This will push me into the 37% tax bracket. I have incorporated a company (Let's call it XYZ Pty Ltd). Can XYZ Pty Ltd invoice me personally (say, for consultancy services or otherwise), in order to pay tax...

Hi all, I am a property developer. From my (limited!) understanding, when I purchase a new development site, there are two ways to record it: 1. Capital expenditures are recorded as asset purchase using spend money, crediting the account of the asset. At sale time, a general ledger entry...

Hi All, I have sold a townhouse for $253,000. Costs were $259,000 inc GST ($241,320.00 ex GST). GST paid is $18,280.00. Come tax time, what am I up for? I assume my GST liability is $7,000 (25,300-18,300). Is the profit/loss calculated on inc or ex figures? INC GST 253,000-259,000 = $6,000...

Hi All, When looking at a member's posts, I can only see the last 250. Is there a way to view them all?

Hi All, Most books about success psychology tell you that you need to "persist" in the face of adversity in order to attain success in an endeavour. Yet, other times, you read that if life is hard, you are off purpose and not heading down the right path. What gives?

Are any of you aware of any venture capital / Private Equity Sources? Thanks in advance :)

Ok, complex one here. I signed a contract to purchase a property in March 2008. I settled April 2009. A tenant moved in to the property in February 2009. At this time, I was using a bungalow to store fencing materials in, whilst I carried out works to the property. I had the owners aproval...

I own a 2 bedroom weatherboard that has two heaters - one in the living area, and one in the hallway. The tenant has told my PM that the one in the hallway is cutting out after 20 mins - do I HAVE to repair/replace it? Can I supply an electric space heater instead? The local heater guy...

Hi Guys. I live in a property which has the original picket fence, dating back to 1958. The posts are all rotted out, one post is missing completely, and the whole schebang looks like it could fall over at any minute. I have spoken to the neighbour about replacing it, and they aren't...

I have a signed contract of sale for $255k, and a contract to build for $175k. The house is to be built on the back of my PPOR, which is not yet subdivided (all the paperwork is in place, the surveyors want me to get the slab down first which will save a couple of grand in a planning report)...

In 2006 I purchased a house for $160k. I rented the house out for 12 months, then renovated it (which took another 12 months, in which time the property was vacant). I have a quantity surveyors report stating $40k of works. I then rented the house out for 12 months, then moved into it. I have...